September 18, 2019
It’s one of those special days in the market where the Fed will make a highly anticipated decision on interest rates. It is widely expected that the Central Bank will cut the Fed Funds rate by 0.25%.
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Early Tuesday morning Biopharmaceutical giant AbbVie (ABBV) announced plans to acquire Ireland-based Allergan plc (AGN) for $63 billion. The market hates the deal and AbbVie stock plummeted over 16% on the day. Let’s take a look at the deal and see what’s going on.